China on Wednesday unveiled a 520 billion yuan ($72.3 billion) package to boost electric vehicle sales! $TSLA+2.5%, $GM+1.5%, $F+0.9%, $RIVN+3.8%, $NIO+12.8%, $LCID+1.4%
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New energy vehicles (NEVs) purchased in 2024 and 2025 will be exempted from the purchase tax of up to 30,000 yuan per vehicle, with the exemption halved for purchases made in 2026 and 2027.
Source: Bulios newsletter 😁
Now everyone will really be cramming into that Chinese market. Solid relief though, this could help. What do you think? And who do you think will take advantage of this benefit the most, i.e. who do you think will see the biggest boost in sales?
$NIO+12.8% could profit nicely from this :)
Well I would say the winning company will be the one that launches a more affordable vehicle now.
So all the EV car companies will take advantage of it. But as we can see, Tesla, for example, is giving way to domestic carmakers. And I'm afraid it's not just there
The domestic BYD, then Tesla and beyond will depend on releasing new models that people are interested in.